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Todd Penegor, 47, most recently president of Kellogg Co.’s U.S. snacks division, will join the
Dublin-based fast-food company in June and take over for Stephen Hare on Sept. 1.

Hare, 59, was chief financial officer of Triarc Cos. when it acquired Wendy’s in 2008, merged it
with Arby’s and moved its headquarters to Atlanta, where Triarc was based.

Hare will consult for Wendy’s through the end of 2013.

“Todd has excellent leadership skills and extensive experience in finance and strategic
planning, which will be extremely valuable as our CFO,” Emil Brolick, Wendy’s CEO, said in a
written statement. “Todd also led one of Kellogg’s most important businesses since 2008 and adds
global experience to Wendy’s.”

Wendy’s also may benefit from Penegor’s consumer savvy in its quest to connect with generations
of younger fast-food eaters.

“Emil (Brolick) is a thinker and a consumer-packaged-goods intellectual, so I’m not surprised at
all” that he would hire Penegor, said John Gordon, principal at Pacific Management Consulting Group
in San Diego.

Brolick was careful to note Hare’s contributions to move Wendy’s toward its goals.

“Steve is one of the true gentlemen in the business, and he has been an invaluable partner to me
and the board of directors,” said Brolick, who has been leading Wendy’s on a rebranding effort that
includes rebuilding or remodeling restaurants as well as a new corporate logo.

Roland Smith, who was Triarc’s CEO at the time of the Wendy’s acquisition, retired from the
company in 2011 after it sold Arby’s and decided to move back to Dublin from Atlanta.